https://www.taxtmi.com/caselaws?id=15162 The lessor of cranes leased on hire was entitled to investment allowance under section 32A of the Income-tax Act even though the machinery was not personally used by the owner in manufacturing activity. The Tribunal accepted that the cranes were used by Government companies for purposes recognised by the Act, and the claim could not be denied merely because the equipment had been leased out. The position was supported by Supreme Court authority holding that a lessor of equipment may claim investment allowance without direct manufacturing use by the owner. en-us Thu, 16 Apr 1998 00:00:00 +0530 Mon, 03 Aug 2009 13:49:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15162 The lessor of cranes leased on hire was entitled to investment allowance under section 32A of the Income-tax Act even though the machinery was not personally used by the owner in manufacturing activity. The Tribunal accepted that the cranes were used by Government companies for purposes recognised by the Act, and the claim could not be denied merely because the equipment had been leased out. The position was supported by Supreme Court authority holding that a lessor of equipment may claim investment allowance without direct manufacturing use by the owner. Case-Laws Income Tax Thu, 16 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15162